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NEWS: TD Bank’s ‘comprehensive overhaul’ of its AML processes as US probes lender’s role washing China fentanyl dirty money

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MAJOR CHANGES: File photo show a Toronto-Dominion Canada Trust bank sign is seen as people walk by in Toronto

UK FATF

NEWS: UK AML Supervision Report outlines FATF compliance efforts

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NEWS: Australia scam losses drop by 26% in 2024

INSIGHT: Victory for Latvia’s fincrime fighters as top court upholds non-conviction based assets confiscation

By Nivedita Balu and Jaiveer Shekhawat CANADA’s TD Bank today (Thursday) said it is working with U.S. regulators to bring an AML probe to a resolution so investors can have more clarity. The lender also revealed that a “comprehensive overhaul” of its U.S. AML program is well underway. It came as TD Bank today (Thursday)…

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UK FATF

NEWS: UK AML Supervision Report outlines FATF compliance efforts

 Premium

NEWS: Australia scam losses drop by 26% in 2024

INSIGHT: Victory for Latvia’s fincrime fighters as top court upholds non-conviction based assets confiscation

Regulatory Watch News

  • Leaders of Los Zetas, a Violent Mexican Drug Cartel, Arraigned on Drug Trafficking, Firearm, and Money Laundering Charges

    US Department of Justice

    Mexican nationals and former leaders of the Los Zetas cartel were arraigned today in Washington, D.C., on charges of engaging in a continuing criminal enterprise that involved multiple murder conspiracies, conspiring to manufacture and distribute large quantities of cocaine and marijuana destined for the United States, using firearms — including a machinegun — during and in relation to drug trafficking crimes, and conspiring to launder monetary instruments.

  • Large cocaine bust in Ecuador: 36 arrested after 73 tonnes of drugs seized

    Europol

    A large-scale drug trafficking investigation, supported by Europol, led to the dismantling of an Ecuadorian criminal cell involved in supplying wholesale cocaine to the EU via major ports. The international operation, led by the Ecuadorian National Police (Policía Nacional del Ecuador), also involved the German Criminal Police (LKA Baden-Württemberg), German Customs (ZFA Stuttgart) and the Spanish Guardia Civil.

  • Company Director jailed after receiving £250,000 via fraudulent loans during COVID

    The Crown Prosecution Service

    A man who fraudulently applied for five false bounce-back loans during the COVID pandemic has been jailed. Mohammed Uddin, 37 of Dunmow, Essex, previously pleaded guilty to five counts of false representation to make gain and was sentenced at Chelmsford Crown Court today to 28 months in prison.  He was disqualified from acting as a company director for five years. Uddin was prosecuted following an investigation by the National Investigation Service (NATIS).   He was the company director of four businesses and in total, submitted five applications for loans between May 2020 to November 2022.

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